Pathfinder Bancorp, Inc. (the "Company") is a Maryland corporation headquartered
in Oswego, New York. The primary business of the Company is its investment in
Pathfinder Bank (the "Bank") which is 100% owned by the Company. Pathfinder
Bank is a commercial bank chartered by the New York State Department of
Financial Services (the "NYSDFS"). The Bank provides loans to, and gathers
deposits from, customers primarily within Oswego and Onondaga Counties in
Central New York State.
At December 31, 2016 and 2015, 4,236,744 and 4,353,850 shares of Company common
stock were outstanding, respectively.
On October 15, 2015, the Company executed a $10.0 million non-amortizing
subordinated loan agreement ("subordinated loan") with an unrelated third party
that is scheduled to mature on October 1, 2025. The Company has the right to
prepay the subordinated loan at any time after October 15, 2020 without penalty.